I am trying to use VM to create a new project. I have an executable that I would like to run and interested parties can join. I followed instructions and rest but still no results. Is there a complete how to other than 81p "Creating BOINC Projects" ? Because it is a little outdated library mismatches etc.

What you'r asking is not really how to create a new project but how to create a new app. For this you need to understand how BOINC works and then adapt your application to it. This is described here: http://boinc.berkeley.edu/trac/wiki/ProjectMain

As a start you can create a project with --test_app and see how the different components work. If you don't have an application with special needs you can also reuse the sample programs.

Here is a from the top of my head checklist regarding applications:
- You should be able to control the runtime of the application via commandline switches, configuration files or the amount of input data
- You should be able to somehow create a commandline and input files that run for 1-4h on a recent computer
- Replace any fopen() calls in your program with boinc_fopen() and add the boinc initialization calls at startup. Examples can be found in the samples/ directory (check uppercase for a very simple example and wrapper/vboxwrapper for more sophisticated examples)
- Use the sample_bitwise_validator and sample_assimilator programs
- create some work directly on the command line using the create_work program
- attach your own computer to the project and troubleshoot any problems until you get the right results.

This should give you a project where you can see if your application can be deployed via BOINC. If you want to start a real project you should put in some more effort and maybe consult a linux administrator in order to setup a secure server.

I have a presentation that explains some of the BOINC server components. If you send me a PM with your email I can send it to you.